A knife can be carried and stored in a sheath. Typically, the sheath protects and covers at least the edge of the knife. In order to retain a knife within a sheath, pinch points (i.e., friction) and straps are commonly used. However, when the user needs to use the knife that is located within the sheath, quick deployment of the knife is imperative. This requires that the retention means be easy to operate, even in a high stress situation. Also, when not in use, retention of the knife within the sheath is very important for safety and reliability purposes. Therefore, improvements in a knife and sheath design that allows for quick deployment while also maintaining sufficient retention are needed.